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MORTGAGE LOAN SERVICING (Tables)
9 Months Ended
Sep. 30, 2022
MORTGAGE LOAN SERVICING  
Tabular disclosure of assumptions used in the calculation of fair value of MSR

September 30, 

December 31, 

    

2022

    

2021

  

Prepayment speed

7.00

9.40

%

Discount rate

9.45

9.20

Default rate

1.65

1.64

Schedule of summarized changes to mortgage servicing rights

Three Months Ended September 30, 

Nine Months Ended September 30, 

    

2022

2021

     

2022

    

2021

(in thousands)

Balance, beginning of period

$

47,130

$

35,955

$

38,268

$

24,833

Additions

915

1,577

3,630

11,842

Changes in fair value due to:

Reductions from loans paid off during the period

(747)

(1,613)

(2,351)

(4,713)

Changes in valuation inputs or assumptions

2,563

621

10,314

4,578

Balance, end of period

$

49,861

$

36,540

$

49,861

$

36,540